Money Smart for Life: Financial Literacy Programs in New Jersey Libraries

Published December 18th, 2025

Money Smart for Life is a new initiative from the New Jersey State Library designed to help libraries educate their communities on the skills needed for long-term financial well-being. Financial literacy is essential for individuals of all ages, backgrounds, and income levels to manage day-to-day finances, prepare for unexpected expenses and emergencies, and plan for future financial security.

From January through March 2026, the State Library will offer professional development training, resources, and ongoing support for New Jersey library staff on a range of financial literacy topics. It is our goal to prepare libraries to host local financial education programming for residents in their communities.

The initiative will culminate during Financial Literacy Month in April 2026, when New Jersey libraries are encouraged to showcase the financial education programs, events, and collections they offer to support their communities.

Upcoming Money Smart for Life Resources

• Professional development training for NJ library staff members on various financial literacy topics.
• A Money Smart for Life Toolkit, which will include practical guidance and examples of successful financial education programs, as well as marketing and outreach materials.
• An Events Calendar, which will showcase the ongoing financial literacy programs and events happening in libraries across the state.
• A new Money Smart for Life Award Program to recognize libraries hosting exceptional financial literacy events.

How Your Library Can Get Involved!

Stay connected to the Money Smart for Life webpage, as new information and resources are being updated frequently! The site currently offers a toolkit of national and state-level resources, and additional resources will be updated in the coming weeks. Additionally, professional development training dates and registration links will be posted soon with information about workshop speakers and partners.

We encourage all NJ libraries to start planning to host a financial literacy event during Financial Literacy Month in April 2026. A form will soon be available where you will be able to indicate your event details. We want to stay connected so that we can add your events to a shared statewide calendar and assist with promoting your activities.

Please stay tuned, and feel free to contact Andrea Levandowski at alevandowski@njstatelib.org or Sharon Rawlins at srawlins@njstatelib.org if you have any questions.

How Libraries Can Bridge the Financial Literacy Gap

The Money Smart for Life initiative is designed to prepare library staff with financial literacy skills training and information, so they will be familiar with personal finance resources. The State Library has curated resources and vetted speakers who are authoritative, unbiased, and relevant to the needs of NJ residents. Ultimately, it is our goal to equip library staff to provide financial literacy support for their patrons.

EBSCO recently published the article, “Why Public Libraries Are Key to Community Financial Empowerment.” Public libraries play a critical role in advancing financial literacy by providing free, trusted access to information and education that supports personal financial decision-making. As inclusive community spaces, libraries reach individuals across all ages, backgrounds, and income levels — including those in underserved communities who may not have access to traditional financial education. Through workshops, digital resources, collections, and one-on-one assistance, libraries help community members build essential life skills.

Beyond delivering information, libraries serve as trusted partners, and their neutral, welcoming environment allows patrons to explore financial topics without judgment. The library community’s longstanding partnerships with community organizations and subject-matter experts help ensure programming is relevant and responsive to local needs. By aligning financial literacy efforts with real-life moments — such as tax season, workforce transitions, or small business development — public libraries strengthen individual financial confidence and contribute to the overall economic well-being of their communities.

Additional Background Information

What is Financial Literacy?

Financial literacy is the ability to understand and manage personal finances. It is a critical skill that can help individuals make informed decisions about spending, saving, investments, and managing debt. The needs of individuals and families change over time based on life events and goals. Financial literacy ranges from essential skills such as budgeting, saving, credit management, and long-term financial planning, to achieving life goals such as funding college/higher education, buying a home, saving for retirement, or starting a business.

Financial literacy topics:

• Money Management, Budgeting, and Emergency Planning
• Banking and Financial Services
• Credit and Debt
• Saving and Investing
• Income and Taxes
• Consumer Skills
• Fraud Prevention and Financial Safety
• Retirement, Estate Planning, and Long-term Healthcare Costs

Why is Financial Literacy Important?

According to the FINRA Foundation’s National Financial Capability Study, only 28% of Americans could answer three questions on fundamental financial concepts correctly. This number drops to 13% for adults between 18-25 years of age. Bankrate’s 2025 Annual Emergency Savings Report indicated that one-third of Americans have more credit card debt than emergency savings, and nearly one in four Americans have no emergency savings at all. Credit card debt and student loan debt, two of the most widely held types of debt, are significant challenges to financial well-being because they are two of the most difficult types of debt to repay. Falling behind on payments means a decline in credit score, which can then lead to higher interest rates and insurance premiums. Personal finance education can provide people with the practical strategies they need to pay down their credit card debt, invest their money, and not only save for emergencies, but also achieve personal goals.

Financial Literacy For All Ages

For Youth & Teens

Although financial literacy has become a mandate in the New Jersey school curriculum, it is not always consistently applied across school districts, and it is not taught to younger students. The earlier children are exposed to the concepts of financial literacy and are provided with the resources for them and their families to set financial goals, the better prepared they will be to apply what they have learned going forward into the future. And even though the increasing popularity of social media influencers discussing financial topics creates interest and transparency for younger generations, it can also be hard to determine what is fact and what is misinformation.

For Adults

Adults in their twenties may not have had any financial education in school, and it’s crucial to begin applying financial knowledge as soon as they start working to plan and save for their future goals, such as buying a house. Parents will need the knowledge to start saving for their children’s future and raise their children to discuss finances openly and be comfortable with the topic. Women have been traditionally excluded from discussions about finances, and by offering these resources, it will help them to gain financial knowledge and good financial habits that will last a lifetime. 

For Seniors

Financial literacy is especially important for seniors because it supports financial security, independence, and informed decision-making during a stage of life often marked by fixed incomes and changing financial needs. A strong understanding of budgeting, retirement income, benefits, and healthcare costs helps older adults manage day-to-day expenses, plan for long-term care, and navigate complex systems such as Social Security, Medicare, and pension benefits with greater confidence. In addition, financial literacy plays a critical role in protecting seniors from fraud, scams, and financial exploitation, which disproportionately affect older adults.